Nomura to Close China Branch Four Years After Opening
Japan’s Nomura is reportedly closing one of its four branches in mainland China only a few years after its opening.
Nomura will close its branch in the eastern Chinese province of Zhejiang by the end of 2025, according to a «Bloomberg» report citing unnamed sources, after first opening in late 2021. This is one of the Japanese bank's four branches in mainland China, alongside Shanghai, Beijing and Shenzhen.
The report also highlighted a retreat in Nomura's China wealth business to shift its focus towards brokerage and asset management.
Shanghai-based Nomura Orient International Securities has reported losses every year since being established in 2019. In 2024, it narrowed losses by 30 percent year-on-year to 128.7 million Chinese yuan ($17.9 million).
A Tokyo-based spokesperson at Nomura declined to comment.
